Charles Schwab (NYSE:SCHW) Price Target Raised to $92.00

Charles Schwab (NYSE:SCHW) had its price target boosted by TD Cowen from $87.00 to $92.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a market perform rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. JMP Securities lifted their target price on Charles Schwab from $77.00 to $80.00 and gave the stock a market outperform rating in a research note on Tuesday, April 9th. Piper Sandler increased their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an overweight rating in a research report on Friday, April 12th. Finally, Raymond James lowered their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $74.47.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $73.05 on Tuesday. The company has a market cap of $129.74 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. Charles Schwab has a 52 week low of $45.65 and a 52 week high of $73.65. The business has a 50 day moving average price of $67.97 and a 200-day moving average price of $62.75.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the firm earned $1.07 EPS. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts anticipate that Charles Schwab will post 3.4 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is 39.37%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 4,977 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now directly owns 81,446 shares in the company, valued at $5,702,034.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,584 shares of company stock valued at $14,200,769. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently added to or reduced their stakes in SCHW. Main Street Group LTD purchased a new position in Charles Schwab in the 4th quarter worth $29,000. Sugarloaf Wealth Management LLC lifted its stake in shares of Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Charles Schwab during the 4th quarter worth approximately $30,000. Wetzel Investment Advisors Inc. purchased a new position in Charles Schwab in the 4th quarter worth approximately $31,000. Finally, Hall Laurie J Trustee bought a new stake in Charles Schwab in the fourth quarter valued at approximately $34,000. Institutional investors own 84.38% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.